A little seasonal relief there for homeowners in the Fruitridge / Elder Creek area as we begin to see prices rise just a little bit over the last month. However, it still has a long way to go. Inventory and sales both seem to suggest that foreclosure inventory is beginning to dry up even in this area and home buyers are beginning to show an interest in short sales. Still, out of a total 105 homes that sold this May, 74 were foreclosure sales. The remaining 22 were non-distressed properties and 9 were short sales.

Year over year, we see that foreclosure sales have gained 29.8% and even non-distressed sales have gone up by 46.7% but the greatest increase has been in short sales – 350% over last May.

Average sold price per square foot has gained a few dollars from April’s price – it is currently $73.93. Still, it is a drop of 32.6% year over year. Average sales price is also higher than it was last month at $87,540 but 29.1% lower than last year at the same time when it was $123,487. Median sales price is currently $70,000.

Inventory is relatively low at 2.3 months. Foreclosure inventory is at 0.4 months.

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